Spinnaker Trust Sells 1,588 Shares of Intel Co. (NASDAQ:INTC)

Spinnaker Trust lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,538 shares of the chip maker’s stock after selling 1,588 shares during the quarter. Spinnaker Trust’s holdings in Intel were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. Finally, State Street Corp grew its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

INTC stock opened at $23.60 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The business’s 50-day moving average is $20.28 and its two-hundred day moving average is $21.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on INTC shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $22.00 price target on shares of Intel in a research note on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, UBS Group cut their target price on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.60.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.